There is certainly no shortage of self-appointed financial “experts” making the rounds in the financial media–television, print and on ye olde interwebs.
But we think something everyone should consider before relying on the advice of these gurus.
Of course the product that which we've chosen to build our practice around is cash value life insurance. In case your a new reader/listener or just stumbled on our site from a search engine.
We should be crystal clear…we like cash value life insurance, we sell it everyday and we spend a great deal of time undoing the mess that other financial “professionals” have made of people's policies when they were sold to them originally.
Just wanted to make sure that we offer full disclosure.
So, what we'd like for people to consider this: the question you should be asking the gurus or even the other so-called financial experts who rail against any use of life insurance other than term insurance, “If all types of permanent life insurance/cash value life insurance (whole life insurance, indexed universal life insurance et. al) are so bad, please explain to me how they work and why you think they're bad?”
Much babbling and bumbling will ensue. Entertaining, perhaps. Useful…not so much.
How can an entire group of people legitimately dismiss something when they prove over and over and over that they don't understand how it works?
Now, there are plenty of agents out there who are guilty of the “I don't build'em, I just fly'em” mentality when it comes to selling life insurance which is really bad and not to be overlooked. However, we argue that the people who just dismiss it completely wihout understanding how it works are just as dangerous.
We’ve been presented with plenty of examples of individuals from people who want to argue against the product, but have no idea how it works and make glaring mistakes when it comes to explaining life insurance and how they take issue with it.
Focusing on one or two aspects of a policy that was designed correctly from the start and then calling the product as a whole evil is a common approach, and we believe it's just irresponsible.
On the other hand, if you're interested in receiving a clear explanation of how it all works or to have us evaluate a policy that you've bought but are now questioning, feel free to contact us, we're more than happy to help.
Brantley is a practicing life insurance agent and has been for nearly 18 years. After years of trying to sell like his sales managers wanted him to, he discovered that people want to buy life insurance if you actually explain the benefits.
Myth: Indexed Universal Life Insurance has Stock Market Exposure – Case Study
Case Study: Whole Life Insurance vs. Bond Strategy
Argument against Permanent Life Insurance: Lack of Fee Disclosure
Argument against Permanent Life Insurance: Low Rate of Return